Current Report Filing (8-k)
September 25 2020 - 4:31PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of The
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): September 21, 2020
MTBC,
INC.
(Exact
name of registrant as specified in its charter)
Delaware
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001-36529
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22-3832302
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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7
Clyde Road, Somerset, New Jersey, 08873
(Address
of principal executive offices, zip code)
(732)
873-5133
(Registrant’s
telephone number, including area code)
Not
Applicable
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of exchange on which registered
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Common
Stock, par value $0.001 per share
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MTBC
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Nasdaq
Global Market
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11%
Series A Cumulative Redeemable Perpetual Preferred Stock, par value $0.001 per share
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MTBCP
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Nasdaq
Global Market
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company [ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item
1.01 Entry into a Material Definitive Agreement
On
September 21, 2020, MTBC, Inc., and its wholly owned subsidiaries MTBC Acquisition, Corp., MTBC Health, Inc., MTBC Practice Management,
Corp., MTBC-Med, Inc., CareCloud Corp., Meridian Billing Management Co., Origin Healthcare Solutions, LLC and Origin
Holdings, Inc. (collectively, the “Company”) entered into a Joinder and Fourth Loan Modification Agreement
with Silicon Valley Bank (“SVB”), where the parties amended the agreement, joining Meridian Billing Management Co.,
Origin Healthcare Solutions, LLC and Origin Holdings, Inc. to MTBC’s Loan Agreement with SVB and setting forth covenants
for the upcoming year.
The
foregoing description of the Agreement does not purport to be complete and is qualified entirely by reference to the complete
text of such document, a copy of which is attached as exhibits to this Form 8-K and are incorporated herein by reference.
The
above description has been included to provide investors and security holders with information regarding the terms thereof. Investors
and security holders are not third-party beneficiaries under the credit agreement and should not rely on the representations,
warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the thereto
or any of their respective subsidiaries or affiliates. Moreover, information concerning the subject matter of representations
and warranties may change after the date of the loan agreement, which subsequent information may or may not be fully reflected
in the Company’s disclosures.
Item
9.01 Financial Statements and Exhibits
SIGNATURE(S)
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, hereunto duly authorized.
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MTBC, Inc.
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Date:
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September
25, 2020
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By:
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/s/
Stephen Snyder
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Stephen
Snyder
Chief
Executive Officer
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